PCVX Vaxcyte Inc.

23.56
-1.64  -7%
Previous Close 25.2
Open 25.23
52 Week Low 17.8
52 Week High 58.475
Market Cap $1,200,375,191
Shares 50,949,711
Float 38,854,188
Enterprise Value $831,859,029
Volume 455,961
Av. Daily Volume 383,443
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Latest News

  1. FOSTER CITY, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced the publication of preclinical data for VAX-A1, the Company's novel Group A Streptococcus (Group A Strep) conjugate vaccine candidate, in the journal Infectious Microbes & Diseases.

    Group A Strep is one of the leading causes of bacterial infections worldwide, including strep throat and certain severe invasive infections such as sepsis, necrotizing fasciitis and toxic shock syndrome. Strep throat is particularly common in school-age children and a significant…

    FOSTER CITY, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced the publication of preclinical data for VAX-A1, the Company's novel Group A Streptococcus (Group A Strep) conjugate vaccine candidate, in the journal Infectious Microbes & Diseases.

    Group A Strep is one of the leading causes of bacterial infections worldwide, including strep throat and certain severe invasive infections such as sepsis, necrotizing fasciitis and toxic shock syndrome. Strep throat is particularly common in school-age children and a significant source of antibiotic prescriptions globally. The Group A Strep pathogen is also a leading cause of mortality in emerging countries by eliciting immune-mediated diseases such as rheumatic fever and rheumatic heart disease. The World Health Organization (WHO) has recognized the significant public health need caused by Group A Strep and has articulated a strategic goal to develop a safe and globally effective Group A Strep vaccine for prevention of acute infections, secondary immune-mediated sequelae and disease-associated mortality and to reduce reliance on antibiotics to help mitigate the growing concern of antibiotic resistance.

    In the study, a novel protein and polysaccharide conjugate of the Group A Strep polysaccharide was constructed for inclusion in a universal subunit vaccine against infections by the pathogen. The study demonstrated that active immunization of mice with the vaccine protected against a Group A Strep challenge in systemic infection and localized skin infection models. Moreover, the antibodies induced by the vaccine bound to a wide array of genetically distinct circulating strains of Group A Strep, without evidence of cross-reactivity to human heart or brain tissue antigens.

    The study referenced in the paper, "Site-Specific Conjugation of Cell Wall Polyrhamnose to Protein SpyAD Envisioning a Safe Universal Group A Streptococcal Vaccine," was carried out in collaboration with researchers at the Division of Host-Microbe Systems and Therapeutics, Department of Pediatrics, University of California School of Medicine and the Skaggs School of Pharmacy and Pharmaceutical Sciences at UC San Diego. The paper can be accessed here.

    "In these preclinical models, the vaccine showed broad and significant protection against systemic and soft tissue infection after challenge with no evidence of cross-reactivity with human tissue, which supports the path for further development," said Jeff Fairman, Ph.D., Vice President, Research and Co-founder of Vaxcyte. "Furthermore, by using conserved antigens, we believe that the vaccine could address the full range of pathogenic serotypes of Group A Strep."

    Victor Nizet, M.D., a professor of pediatrics and pharmaceutical sciences at UC San Diego who led the preclinical vaccine testing, noted, "Successful immunization against Group A Strep to prevent strep throat, invasive infections and rheumatic heart disease would not only save lives, but also reduce the need for antibiotic prescriptions, which fuel the continual evolution of resistance to these important medications."

    Highlights of Findings from the Preclinical Study:

    • The study examined the efficacy of a novel polysaccharide protein conjugate for a vaccine covering all serotypes of Group A Strep.
    • The vaccine elicited antibodies that were protective in systemic and soft tissue mouse models of infection.
    • Broad-based cross-reactivity with multiple M-protein serotypes of Group A Strep was observed in the serum of vaccinated animals.
    • No cross-reactivity was detected with human heart or brain proteins.

    About Group A Streptococcus

    Streptococcus pyogenes (S. pyogenes or Group A Strep) is a preeminent human pathogen causing 700 million cases of disease annually, the majority of which are pharyngitis, commonly known as strep throat. Pharyngitis is highly prevalent in school-age children and a significant source of antibiotic prescriptions, contributing to the growing problem of antibiotic resistance globally. In the United States, an estimated 17.1% of outpatient antibiotic prescriptions dispensed to children aged 3 to 9 years are for treatment of suspected Group A Strep infections. Studies indicate that antibiotic resistance to Group A Strep has significantly increased in this past decade. For example, from 2010 to 2017, the percentage of Group A Strep infections that are resistant to erythromycin has nearly tripled from 8% to 23%, resulting in the elevation of the bacteria by the U.S. Centers for Disease Control (CDC) to the antibiotic resistant category of a "concerning threat." Group A Strep also increases the risk of severe invasive infections, such as sepsis, necrotizing fasciitis and toxic shock syndrome, and is responsible for post-infectious, immune-mediated rheumatic heart disease (RHD), a leading cause of mortality in emerging countries. Some 30 million people are currently affected by RHD, with over 300,000 deaths in 2015 and 10.5 million disability-adjusted life years lost.

    About VAX-A1

    VAX-A1 is a conjugate vaccine candidate designed to confer broad protective immune responses against all subtypes of Group A Strep and be boostable to offer long-lasting protection from infection. A central component of the vaccine is polyrhamnose, a conserved polysaccharide in the bacterial cell wall, genetically engineered by UC San Diego technology to eliminate an immune epitope implicated in the autoimmune cross-reaction of rheumatic heart disease. Vaxcyte exclusively licensed the rights to this patented antigen and is developing the Group A Strep vaccine utilizing its proprietary conjugation technology. In the research program, the polyrhamnose was conjugated to conserved Group A Strep-specific immunogenic protein carrier using the Company's site-specific conjugation technology. The resulting conjugate is designed to ensure optimal exposure of both the B-cell and T-cell epitopes on the protein carrier to confer robust, boostable and durable protective immune responses. The vaccine is a combination of this novel conjugate with three additional highly conserved virulence factors, designed to cover all Group A Strep strains.  

    In July 2019, Vaxcyte received a cost-reimbursement research award from Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X), a global non-profit partnership dedicated to supporting the development of antibiotics, vaccines, diagnostics and other products that address antibiotic-resistant bacteria. The CARB-X award provides funding of up to $2.7 million to support the development of an innovative vaccine to prevent infections caused by Group A Strep bacteria in developing countries and in the developed world. If the project meets certain milestones, Vaxcyte could be eligible to receive additional funding from CARB-X to support further development of the vaccine.

    About Vaxcyte

    Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company's cell-free protein synthesis platform, comprising the XpressCFTM platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte's proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. Vaxcyte's lead vaccine candidate, VAX-24, is a preclinical, 24-valent broad-spectrum pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD). Vaxcyte's pipeline also includes VAX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for IPD and antibiotic resistance; VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; and VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease. For more information, visit www.vaxcyte.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to the process and timing of anticipated future development of Vaxcyte's vaccine candidates, whether preclinical results support further development of its VAX-A1 and the potential success of the VAX-A1 program. The words "believe," "could," "expect," "may," "potential," "should," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on Vaxcyte's current expectations and actual results and timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, including, without limitation, risks related to Vaxcyte's product development programs, including development timelines, success and timing of chemistry, manufacturing and controls and related manufacturing activities, potential delays or inability to obtain and maintain required regulatory approvals for its vaccine candidates, and the risks and uncertainties inherent with preclinical and clinical development processes; the success, cost and timing of all development activities and clinical trials; and sufficiency of cash and other funding to support Vaxcyte's development programs and other operating expenses. These and other risks are described more fully in Vaxcyte's filings with the Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q filed with the SEC on November 12, 2020 or in other documents Vaxcyte subsequently files with or furnishes to the SEC. Vaxcyte undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations. Readers should not rely upon the information in this press release as current or accurate after its publication date.

    The research reported in this news release is supported by the Cooperative Agreement Number IDSEP160030 from ASPR/BARDA and awards from Wellcome Trust, the UK Government's Global AMR Innovation Fund (GAMRIF) and the German Federal Ministry of Education and Research, as administered by CARB-X. The content is solely the responsibility of the authors and does not necessarily represent the official views of the Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response, other funders or CARB-X. 

    Investor Contact:

    Andrew Guggenhime, President & Chief Financial Officer

    Vaxcyte, Inc.

    650-837-0111



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  2. FOSTER CITY, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced the promotion of Andrew Guggenhime from Chief Financial Officer and Chief Business Officer to President and Chief Financial Officer effective January 1, 2021. In this new role, Mr. Guggenhime will lead the finance, human resources, corporate communications, investor relations, business and corporate development, strategy, information technology and facilities activities at Vaxcyte.

    "Andrew has demonstrated his outstanding leadership…

    FOSTER CITY, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced the promotion of Andrew Guggenhime from Chief Financial Officer and Chief Business Officer to President and Chief Financial Officer effective January 1, 2021. In this new role, Mr. Guggenhime will lead the finance, human resources, corporate communications, investor relations, business and corporate development, strategy, information technology and facilities activities at Vaxcyte.

    "Andrew has demonstrated his outstanding leadership capabilities since joining Vaxcyte earlier this year, and brings significant experience across a wide range of functions," said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. "Today's announcement reflects an evolution in our leadership structure which enables us to continue to scale our organization effectively as we execute on our mission and advance our pipeline of novel vaccine candidates, led by VAX-24, our pneumococcal conjugate vaccine candidate designed to prevent invasive pneumococcal disease."

    Mr. Guggenhime joined Vaxcyte in May 2020, bringing more than two decades of finance, strategic and operational leadership experience at both private and public healthcare companies. Mr. Guggenhime joined Vaxcyte from Dermira, Inc., where he served as Chief Financial Officer from April 2014 through the acquisition of the company by Eli Lilly and Company in February 2020. Prior to Dermira, Mr. Guggenhime served as Chief Financial Officer for CardioDx, Inc., a privately held commercial-stage cardiovascular molecular diagnostics company. He also served as Chief Financial Officer for Calistoga Pharmaceuticals, Inc., a privately held, development-stage company, which was acquired by Gilead Sciences, Inc. in 2011, and as Chief Financial Officer for Facet Biotech Corporation, a biotechnology company that was acquired by Abbott Laboratories in April 2010. He previously served as Chief Financial Officer of PDL BioPharma, Inc. until Facet Biotech was spun off from PDL BioPharma in December 2008. Prior to joining Facet Biotech, Mr. Guggenhime served as Chief Financial Officer for Neoforma, Inc. a provider of supply chain management solutions for the healthcare industry, which was acquired by Global Healthcare Exchange, LLC in March 2006. Mr. Guggenhime began his career in financial services at Merrill Lynch & Co. and Wells Fargo & Company. He currently serves on the board of directors of Metacrine, Inc., a biotechnology company. Mr. Guggenhime holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University and a B.A. in international politics and economics from Middlebury College.

    About Vaxcyte

    Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company's cell-free protein synthesis platform, comprising the XpressCFTM platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte's proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. Vaxcyte's lead vaccine candidate, VAX-24, is a preclinical, 24-valent broad-spectrum pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD). Vaxcyte's pipeline also includes VAX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for IPD and antibiotic resistance; VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; and VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease. For more information, visit www.vaxcyte.com.

    Contact:

    Andrew Guggenhime, Chief Financial Officer & Chief Business Officer

    Vaxcyte, Inc.

    650-837-0111



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  3. FOSTER CITY, Calif., Nov. 24, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced that company management will participate in a fireside chat at the Evercore ISI 3rd Annual HealthCONx conference on Wednesday, December 2, 2020 at 1:50pm ET.

    A live webcast of the fireside chat can be accessed through the Investors & Media section of the Company's website at http://investors.vaxcyte.com. A replay of the webcast will be available for approximately 30 days following the conference.

    About Vaxcyte
    Vaxcyte is a next-generation…

    FOSTER CITY, Calif., Nov. 24, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced that company management will participate in a fireside chat at the Evercore ISI 3rd Annual HealthCONx conference on Wednesday, December 2, 2020 at 1:50pm ET.

    A live webcast of the fireside chat can be accessed through the Investors & Media section of the Company's website at http://investors.vaxcyte.com. A replay of the webcast will be available for approximately 30 days following the conference.

    About Vaxcyte

    Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company's cell-free protein synthesis platform, comprising the XpressCF™ platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte's proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. Vaxcyte's lead vaccine candidate, VAX-24, is a preclinical, 24-valent broad-spectrum pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD). Vaxcyte's pipeline also includes VAX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for IPD and antibiotic resistance; VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; and VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease. For more information, visit www.vaxcyte.com.

    Contact:

    Andrew Guggenhime, Chief Financial Officer & Chief Business Officer

    Vaxcyte, Inc.

    650-837-0111

     



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  4. FOSTER CITY, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced financial results for the third quarter ended September 30, 2020 and provided a business update.

    "Vaxcyte continues to make steady progress in executing on our business objectives," said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. "We advanced several important manufacturing activities for VAX-24, our 24-valent investigational pneumococcal conjugate vaccine, or PCV, designed to prevent invasive pneumococcal…

    FOSTER CITY, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced financial results for the third quarter ended September 30, 2020 and provided a business update.

    "Vaxcyte continues to make steady progress in executing on our business objectives," said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. "We advanced several important manufacturing activities for VAX-24, our 24-valent investigational pneumococcal conjugate vaccine, or PCV, designed to prevent invasive pneumococcal disease, as we proceed toward our anticipated IND filing in the second half of next year. In addition, we continued to progress our pipeline vaccines, including VAX-XP, our PCV candidate with an expanded breadth of coverage of at least 30 strains, as part of our PCV franchise life cycle management strategy. We also were pleased to further strengthen our leadership team, as we approach the clinic, with the additions of Rom Colindres as Chief Medical Officer and Sue Fekete as Vice President, Regulatory Affairs."

    Recent Highlights

    • Advanced VAX-24 Manufacturing Activities: Vaxcyte progressed several manufacturing initiatives for VAX-24, including for the good manufacturing practices (GMP) batches of the 24 polysaccharide antigens and the GMP batches of the 24 conjugate drug substances.



    • Appointed Romulo Colindres, MD, MPH as Chief Medical Officer: In November 2020, Vaxcyte appointed Romulo Colindres, MD, MPH as Chief Medical Officer. Prior to joining Vaxcyte, Dr. Colindres served in several roles at GlaxoSmithKline Vaccines and most recently served as an independent consultant and advisor to multiple biotechnology companies. From March 2007 to March 2019, Dr. Colindres served in roles of increasing responsibility at GlaxoSmithKline, including Head of Health Outcomes for GSK Vaccines Latin America, Head of Global Epidemiology for GSK Vaccines and, most recently, Vice President, Global Medical Affairs Lead, Zoster Vaccine, leading the medical team in the successful launch of Shingrix®, a recombinant adjuvanted herpes zoster vaccine. Prior to that, Dr. Colindres worked at the Centers for Disease Control and Prevention (CDC) as an Epidemic Intelligence Service Officer. He completed his residency at Children's National Medical Center in Washington, DC and was board certified in Pediatrics. Dr. Colindres received both his MD and MPH at The University of North Carolina, Chapel Hill, and his MBA from Duke University's Fuqua School of Business.
    • Appointed Suzanna Fekete, MSc as Vice President, Regulatory Affairs: In October 2020, Vaxcyte appointed Suzanna Fekete, MSc as Vice President, Regulatory Affairs. Prior to joining Vaxcyte, Ms. Fekete served in roles of increasing responsibility at Takeda Vaccines since 2015, most recently as Vice President and Head, Global Regulatory Affairs. Ms. Fekete also served as Head, North American Regulatory Affairs at Novartis Vaccines and Diagnostics and held regulatory affairs leadership roles at multiple other pharmaceutical and biotechnology companies. Ms. Fekete received her MSc at the University of Wales.

    Anticipated Milestones

    Vaxcyte reaffirmed its previously issued guidance for its pipeline programs.

    • VAX-24: Vaxcyte expects to submit an Investigational New Drug (IND) application for VAX-24 to the U.S. Food and Drug Administration (FDA) and initiate its Phase 1/2 clinical proof-of-concept study in the second half of 2021. Vaxcyte expects to announce topline data from this study in 2022.



    • VAX-A1: In 2021, Vaxcyte expects to nominate a final vaccine candidate for VAX-A1, its novel conjugate vaccine designed to provide universal protection from infections caused by Group A Strep bacteria, which include pharyngitis, toxic shock syndrome and necrotizing fasciitis.



    • VAX-PG: In 2021, Vaxcyte expects to nominate a final vaccine candidate for VAX-PG, its novel therapeutic vaccine designed to treat periodontal disease.

    Third Quarter 2020 Financial Results

    • Cash Position: Cash and cash equivalents were $397.0 million as of September 30, 2020, compared to $59.0 million as of December 31, 2019, an increase due to Vaxcyte's IPO in June 2020 and Series D financing in March 2020, which generated net proceeds of $264.0 million and $109.9 million, respectively.



    • Research & Development (R&D) Expenses: R&D expenses were $16.4 million for the three months ended September 30, 2020 as compared to $9.6 million for the same period in 2019. The increase was due primarily to an increase in manufacturing expenses and outsourced research services related to the Company's VAX-24 program.



    • General & Administrative (G&A) Expenses: G&A expenses were $4.9 million for the three months ended September 30, 2020 as compared to $2.5 million for the same period in 2019. The increase was due primarily to an increase in personnel-related and directors and officers insurance expenses.



    • Net Loss: For the three months ended September 30, 2020, net loss was $21.0 million, compared to $11.3 million for the three months ended September 30, 2019.

    About Vaxcyte

    Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company's cell-free protein synthesis platform, comprising the XpressCF™ platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte's proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. Vaxcyte's lead vaccine candidate, VAX-24, is a preclinical, 24-valent broad-spectrum pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD). Vaxcyte's pipeline also includes VAX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for IPD and antibiotic resistance; VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; and VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease. For more information, visit www.vaxcyte.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to the process and timing of anticipated future development of Vaxcyte's vaccine candidates, including the submission of an IND and initiation of a Phase 1/2 study of VAX-24 in the second half of 2021 and the announcement of topline data in 2022; the nomination of a final vaccine candidate for VAX-A1 in 2021 and the nomination of a final vaccine candidate for VAX-PG in 2021. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on Vaxcyte's current expectations and actual results and timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, including, without limitation, risks related to Vaxcyte's product development programs, including development timelines, success and timing of chemistry, manufacturing and controls and related manufacturing activities, potential delays or inability to obtain and maintain required regulatory approvals for its vaccine candidates, and the risks and uncertainties inherent with preclinical and clinical development processes; the success, cost and timing of all development activities and clinical trials; and sufficiency of cash and other funding to support Vaxcyte's development programs and other operating expenses. These and other risks are described more fully in Vaxcyte's filings with the Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q filed with the SEC on November 12, 2020 or in other documents Vaxcyte subsequently files with or furnishes to the SEC. Vaxcyte undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations. Readers should not rely upon the information in this press release as current or accurate after its publication date.

    Investor Contact:

    Andrew Guggenhime, Chief Financial Officer & Chief Business Officer

    Vaxcyte, Inc.

    650-837-0111



             
    Vaxcyte, Inc. 
    Condensed Statements of Operations 
    (in thousands, except share and per share amounts) 
    (unaudited) 
             
     Three Months Ended Nine Months Ended 
     September 30, September 30, 
      2020   2019   2020   2019  
    Operating expenses:        
    Research and development (1)$16,410  $9,630  $58,903  $32,225  
    General and administrative (1) 4,898   2,510   11,225   6,089  
    Total operating expenses 21,308   12,140   70,128   38,314  
             
    Loss from operations (21,308)  (12,140)  (70,128)  (38,314) 
    Other income (expense), net        
    Interest expense    (9)  (7)  (33) 
    Interest income 33   120   212   537  
    Grant income 787   54   2,152   54  
    Foreign currency transaction losses (530)  (186)  (709)  (417) 
    Change in fair value of the redeemable convertible preferred stock tranche liability    844      2,520  
             
    Total other income (expense), net 290   823   1,648   2,661  
             
    Net loss and comprehensive loss$(21,018) $(11,317) $(68,480) $(35,653) 
             
    Net loss per share, basic and diluted$(0.41) $(2.93) $(3.06) $(9.54) 
             
    Weighted-average shares outstanding, basic and diluted 50,895,358   3,857,298   22,354,212   3,737,779  
             
             
          
    (1) Amounts include stock-based compensation expense as follows:     
             
    Research and development$558  $88  $1,081  $262  
    General and administrative 1,280   178   2,418   548  
    Total stock-based compensation expense$1,838  $266  $3,499  $810  
             
             
             
    Vaxcyte, Inc. 
    Summary Consolidated Balance Sheet Data 
    (in thousands) 
    (unaudited) 
             
       September 30, December 31,

         
        2020   2019    
    Cash and cash equivalents  $397,048  $58,976    
    Total assets   403,816   65,698    
    Redeemable convertible preferred stock      160,310    
    Total stockholders' equity (deficit)   364,075   (106,373)   

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  5. FOSTER CITY, Calif., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced that company management will present at the Jefferies Virtual London Healthcare Conference on Tuesday November 17, 2020 at 12:35pm ET.

    A live webcast of the presentation can be accessed through the Investors & Media section of the Company's website at http://investors.vaxcyte.com. A replay of the webcast will be available for approximately 30 days following the conference.

    About Vaxcyte
    Vaxcyte is a next-generation vaccine…

    FOSTER CITY, Calif., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Vaxcyte, Inc., formerly known as SutroVax, a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced that company management will present at the Jefferies Virtual London Healthcare Conference on Tuesday November 17, 2020 at 12:35pm ET.

    A live webcast of the presentation can be accessed through the Investors & Media section of the Company's website at http://investors.vaxcyte.com. A replay of the webcast will be available for approximately 30 days following the conference.

    About Vaxcyte

    Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company's cell-free protein synthesis platform, comprising the XpressCFTM platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte's proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. Vaxcyte's lead vaccine candidate, VAX-24, is a preclinical, 24-valent broad-spectrum pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD). Vaxcyte's pipeline also includes VAX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for IPD and antibiotic resistance; VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; and VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease. For more information, visit www.vaxcyte.com.

    Contact:

    Andrew Guggenhime, Chief Financial Officer & Chief Business Officer

    Vaxcyte, Inc.

    650-837-0111

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